Cryptocurrencies enjoyed a bright start to the year but that looks to be coming undone as the recent selloff continued Thursday.

The price of bitcoin leapt back above $100,000 to start the first full trading week of the new year. The flagship cryptocurrency was last higher by about 4% at $102,234, according to Coin Metrics. The broader crypto market,

Cryptocurrencies typically gain when interest rates fall as riskier assets such as Bitcoin or XRP see higher demand. Traders still expect rates to go down, but just not as much as